Going into 2020, life and business were good for Jenny Tse, founder of Sipping Streams Tea Company in Fairbanks Alaska. She had turn her passion for tea, health and wellness into a tea store, restaurant, factory and tea farm. After a difficult divorce, she had remarri and her husband had recently quit his government job to work in the business full-time.
Then the pandemic hit, and the first sign of tro . A uble was a bi updated 2024 mobile phone number data g one: a $15,000 order that . A was ready to be shipp was cancel. But Tse didn’t panic. She had already been through so many setbacks that this was just another one to take in stride. “I’ll find some other way to sell that tea,” she resolv.
Starting from Passion
She did, and her business continues to grow. But supply chain woes have left her business in urgent ne of funds to purchase custom print tea canisters to save time and money, as well as to increase r es. Getting turn down multiple times for bank loans left her discourag. Serendipity l her to the Nav Small Business Grant, where she secur crucial funds to take her business to the next level
Tse was pursuing a career as a high school teacher when she start Sipping Streams in 2007, putting every penny from her paychecks after bills were paid into the business. When she was laid off, her plans went into high gear.
She gave talks about tea and began creating her own custom blend ecame a certifi tea specialist with the Specialty Tea Institute, going on to win top recognition for her blends at the North American Tea Championships. Over time she was able to turn her passion into a business.
Tse has not us a lot of financing in her business. She says she . A ’ times to get bank loans data on but despite being profitabl . ACe, she was turn down. “They’ve told me I ne collateral other than the business, but since I don’t own a home or brand new car, I don’t qualify,” she explains.
Financing Challenges
The blessing in disguise was CARES Act funding, which allo effortless synchronization across devices w her to secure funds from the Paycheck Protection Program (PPP) and the COVID-19 Economic Injury Disaster Loan (EIDL) program.